PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. reduced its stake in PDD Holdings by 68.0% during the second quarter, now owning 38,348 shares valued at approximately $4,014,000.
• PDD Holdings has a current market capitalization of $173 billion, with stock trading between a fifty-two week low of $87.11 and a high of $145.37, as well as a P/E ratio of 13.48.
• Research analysts have mixed views on PDD, with a consensus rating of "Hold" and a target price of $137.82, while Jefferies Financial Group set a $146.00 target price describing it as a "buy".

Vontobel Holding Ltd. cut its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 68.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,348 shares of the company's stock after selling 81,493 shares during the quarter. Vontobel Holding Ltd.'s holdings in PDD were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in PDD during the 1st quarter worth $26,000. Ameritas Advisory Services LLC acquired a new position in PDD during the 2nd quarter worth $28,000. IFP Advisors Inc grew its stake in PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock worth $48,000 after purchasing an additional 290 shares in the last quarter. Goldstream Capital Management Ltd acquired a new position in PDD during the 1st quarter worth $102,000. Finally, Valeo Financial Advisors LLC acquired a new position in PDD during the 2nd quarter worth $136,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

PDD stock opened at $124.27 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $145.37. The company has a market capitalization of $173.00 billion, a P/E ratio of 13.48, a PEG ratio of 1.55 and a beta of 0.40. The stock has a 50-day simple moving average of $124.75 and a 200-day simple moving average of $112.79.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group set a $146.00 target price on PDD and gave the stock a "buy" rating in a research note on Monday, August 25th. Zacks Research raised PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Macquarie set a $165.00 price objective on PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. Citigroup reaffirmed a "buy" rating on shares of PDD in a research report on Monday, August 25th. Finally, New Street Research cut PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective for the company. in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $137.82.

About PDD

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.

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